South Dakota § 4-6A-3 - Segregation of collateral by public depository--Value--Deposit and designation--Letters of credit and surety bonds.
Full text of South Dakota South Dakota Codified Laws § 4-6A-3 — Segregation of collateral by public depository--Value--Deposit and designation--Letters of credit and surety bonds., with citation guidance and answers to common questions.
§ 4-6A-3. Segregation of collateral by public depository--Value--Deposit and designation--Letters of credit and surety bonds.
Every qualified public depository shall at all times maintain, segregated from its other assets, eligible collateral having a value at least equal to its maximum liability under this chapter. Such collateral shall be segregated by deposit in such manner as the commission approves. The collateral shall be clearly designated as security for the benefit of public depositors under this chapter and shall be pledged as collateral for those public deposit accounts which exceed deposit insurance. Irrevocable standby letters of credit or surety bonds shall be segregated or issued in such manner as the commission approves.
Source: SL 1974, ch 39, § 6; SL 1982, ch 45, § 1A; SL 1986, ch 44, § 2; SL 1986, ch 45, § 3; SL 1987, ch 45, § 2; SL 1997, ch 273, § 3.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 4-6A-3
What does South Dakota Codified Laws § 4-6A-3 cover?
Section 4-6A-3 ("Segregation of collateral by public depository--Value--Deposit and designation--Letters of credit and surety bonds.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 4-6A-3?
A common citation format is "South Dakota Codified Laws § 4-6A-3" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 4-6A-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.